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An Egypt-EU pact will be worth $5-$6bn [€4.6-€6.5bn] in funding, finance minister Mohamed Maait said on Monday

Egypt eyes $5-6bn in EU cash under migrant deal

Egypt expects to receive between $5-$6bn [€4.6-€6.5bn] in funding from the EU under a major 'cash for migrant control' pact which is set to be finalised this weekend.

That $5-6bn figure was spelt out by Cairo's finance minister Mohamed Maait at a press conference on Monday (11 March). Later he added that the World Bank is expected to extend around $3bn [€2.6bn] in financing to Cairo, while further funds are expected from Japan and the International Monetary Fund.

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

An Egypt-EU pact will be worth $5-$6bn [€4.6-€6.5bn] in funding, finance minister Mohamed Maait said on Monday

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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